Step-by-step explanation:
x = n of years of mary
x+8= n of years of her bro
So her brother is (x+8)/x times as old as Mary
FV=PV(1+r)ⁿ
FV=Future Value, or the $2,600 that you want.
PV=Present Value, or the value that you are depositing.
APR: .06
2,600=2,000(1.06)ⁿ
2,600=2120ⁿ
It would take about a year for Nicole to get $2600.
~Hope I helped~
Answer:
Step-by-step explanation:
x-11
Answer:
can be expressed as decimal: 0.025
s= 1.025* $250
= $256.25
after 8 years
s= $250* 1.025^8
~$304.6
earned $54.6
Step-by-step explanation:
2 and a half is equivilant to 2.5
because it is a % (out of 100) move the decimal 2 places down
2.5-->0.25-->0.025
so can be expressed as decimal: 0.025
interest after 1 year is:
original amount of money * (interest rate+1.0)
+1 because you are adding on to 100%. you already have 100%. if it was just the interest rate, the amount of money would go down.
so
s= 1.025* $250
=1.025* 250
=256.25
interest after 8 years,
that means you have to take the original, and multiply it by the interest rate, then the new original multiply by intrest rate a total of 8 times
to do this use an exponent, because exponents base the total off the total before them. if that makes any sense srry
s= $250* 1.025^8
~$304.6 (I used calculator)
to get her earnings, subtract the new amount of money with her original amount of money
304.6-250
=54.6
$54.6
hope this helps
